5 Questions
What was the effective date of the universal reversion of the Income Tax Acts?
31 December 2021
What is the reference for quoting relevant section numbers in assessments?
BA 1266
What is the treatment for provisions related to stock obsolescence?
Only specific provisions are deductible
When are other provisions considered deductible?
Only when the amount is actually incurred
What has been done to the renumbered sections of the Tax Acts?
Struck off with the renumbered provision
Test your knowledge of the latest tax updates with this official (closed) quiz. Brush up on the renumbered sections and other key changes in the Income Tax Acts that came into effect from 31 December 2021. Stay updated on non-sensitive tax provisions and test your understanding of the revised tax treatments.
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